Renaissance Gold (TSX-V:REN, StockForum)(“RenGold”), a Nevada-based gold/silver-focused exploration firm engaged in the exploration of mineral properties worldwide, announced today that the company had purchased the AngloGold Ashanti database currently owned by Redstar Gold for $60,000.
According to the news release, the database contains extensive digital and analogue files and with RenGold's purchase, the company has a full digital copy and complete physical access to all analogue files stored within 1 kilometre of its Reno exploration office.
The database itself is focused in the Great Basin as it covers both Nevada and Utah, but it also includes surrounding states as well and contains data on more than 42,000 rock chips, soils and stream sediment samples.
RenGold will roll this data into its existing database and as a result will also have analogue files of individual projects that can be borrowed and copied with 1300 files for Nevada, 250 files for Utah, 415 files for Idaho and 900 files for California.
RenGold president and CEO, commented on the acquisition, “We have been building on our exploration database for ten years, including rock chip data, soils, property files and geophysics and combining RenGold’s database with the original AngloGold database will give us a large database that rivals that of any junior exploration company in the Great Basin.”
He continued, “RenGold is technically driven and has the expertise to merge datasets, level them and query them for exploration targets and vectoring. AngloGold was also very driven by hyperspectral remote sensing data and we have extensive capabilities in this regard.”
Then concluded, “This will provide a strong and enduring asset to RenGold for decades to come.”
Renaissance Gold was in the news recently when the company entered into an earn-in agreement at its Wood Hills South Project.
Shares were up 6.90% on the news to $0.62 per share.
Currently there are 30.9m outstanding shares with a market cap of $19.2 million.